If people are willing this year to buy more of a particular good at each and every price than they were willing to buy last year, the
What will be an ideal response?
demand for the good has increased.
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Suppose an individual has $45,000 in annual income and considering a home that they intend to finance with a $150,000 mortgage at 4% APR 30-year fixed rate loan, the real estate taxes and insurance are $2,000 per year, auto payments are $350/month, and student loans payments are $400/month.
(1) Calculate the two qualification ratios. (2) Would this individual qualify for this loan using a standard 28/36 ratio criteria? Show all work for credit.
The rate at which banks can borrow excess reserves from other banks is equal to
A) the discount rate. B) the required reserve ratio. C) the interest rate paid on reserves held with the Fed. D) none of the above.
Refer to Figure 5-2. The marginal benefit of the last unit produced is represented by the price
A) Pa. B) Pb. C) Pc. D) Pf.
U.S. imports are:
A. U.S. goods sold to Americans. B. U.S. goods sold to foreigners. C. Foreign and U.S. goods sold to foreigners, but consumed in the U.S. D. Foreign goods bought by Americans.